A County Clare business man is set to receive a multi-million euro payout with the sale of an aircraft leasing company.
Bohai, a Chinese leasing company, has greed a deal to buy Avolon for $31 per share. The deal, which includes $5.1 billion in debt, values the company at $7.6 billion.
Ennis man Domhnal Slattery, who is also one of the co-founders of The Clare People newspaper, is the chief executive of Avolon and could pocket up to €30.8m from the sale of Avolon to China’s Bohai Leasing for €2.23bn reports, The Irish Examiner.
Avolon is the second aircraft leasing firm that Mr Slattery has established that has been sold off for billions.
In 2012, RBS Aerospace was sold to a Japanese bank for €5.85bn and the RBS firm was spawned from International Aviation Management, a company established by Mr Slattery.